The Prime Minister inaugurated the activities of the Japanese Economic Zone

Prime Minister Sheikh Hasina inaugurated the Bangladesh Special Economic Zone (BSEZ) program at Arai Hazare in Narayanganj district.

On Tuesday morning, Prime Minister Sheikh Hasina inaugurated the activities of the Economic Zone, known as the Japanese Economic Zone, from her official residence Ganabhaban.

The economic zone, when fully operational, will attract over 1.5 billion US dollars in investment and has initially created employment for over one lakh people.

The vision of establishing an EZ (Economic Zone) dedicated to Japan began in 2014, when Prime Minister Sheikh Hasina visited Japan.

The Japan International Cooperation Agency (JICA) undertook the feasibility study in 2016. Later in 2019, Japan's Sumitomo Corporation signed an agreement with Beza to develop the BSEZ.

Reputed companies like Singer have already started building their infrastructure in the economic zone and an agreement with German company Rudolph has also been signed.

Agreements will be signed with two more Japanese investors after the opening ceremony, where 30 more Japanese firms and 10 firms from other countries have expressed interest in investing in the economic zone.

Singer will make an initial investment of $79 million, while chemical company Rudolph will make an initial investment of $7 million.

Land acquisition for setting up Japanese Economic Zone-II has been completed and Cabinet Committee on Economic Affairs (CCEA) approval to set up another Special Economic Zone dedicated to Chinese investors is awaited.

The government has requested the Japan International Cooperation Agency (JICA) to set up skill development centers at Arai Hazar in Narayanganj and Mirsarai in Chittagong.

Around 177 investors in five economic zones across the country have so far offered an aggregate investment of $22,173.177 million to create employment opportunities for 8,16,541 people.

These five economic zones are Mirsarai's Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), Jamalpur Economic Zone, Sabrang Tourism Park, Maheshkhali Economic Zone-3 (Dhalghata) and Srihatto Economic Zone.

In addition, nearly $4 billion has already been invested in private economic zones, creating employment opportunities for nearly 35,000 people.

Japanese Ambassador to Bangladesh ITO Naoki and Sumitomo Corporation Group President and CEO Masayuki Hyodo spoke on the occasion.

Sheikh Yusuf Haroon, Executive Chairman of Bangladesh Economic Zone Authority (BEZA) delivered the welcome speech.

A video documentary on the activities of Bangladesh Economic Zone was screened at the event.